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Insurer To Offer Managed VA Portfolios

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NU Online News Service, March 21, 2005, 4:18 p.m. EST

AIG SunAmerica Retirement Markets Inc., Los Angeles, will be introducing retail variable annuities for consumers who want professional investment assistance.[@@]

AIG SunAmerica, a unit of American International Group Inc., New York, will offer purchasers of its new Seasons Variable Annuity contracts a choice of 4 “managed allocation portfolios” based on its Seasons Select portfolios and its Focused portfolios.

The Select portfolios combine “an indexed manager with 2 active managers who have complementary investment styles,” AIG SunAmerica says.

The Focused portfolios combine 10 stock picks from each of 3 separate and distinct managers, AIG SunAmerica says.

Money managers at Ibbotson Associates Advisors L.L.C., Chicago, will be responsible for allocating the assets within the portfolios, monitoring portfolio performance and rebalancing the portfolios.